Knowles:The Acoustics Pioneer

February 2014

Cautionary Statements

2

A number of forward-looking statements are included in this presentation, including 1Q14 projections and mid-term targets. Forward-looking statements are any statements that are not historical facts. The words “believe,” “project,” “plan,” “potential,” “will,” “target,” and similar expressions, among others, generally identify forward-looking statements. These forward-looking statements are based on the current plans and expectations of Knowles and are expressed in good faith and believed to have a reasonable basis, but there can be no assurance that such plans or expectations will be achieved. Because forward-looking statements involve risks and uncertainties, Knowles’ actual results could differ materially from those projected, anticipated or implied in these statements. Factors that could cause actual results or events to differ materially from those anticipated include the matters described under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Knowles’ information statement filed as an exhibit to its Form 10 with the SEC and available at www.knowles.com.

The financial data included in this presentation for the quarter and year ended December 31, 2013 are preliminary and unaudited and subject to, among others, completion of financial closing procedures, audit and other adjustments. The content of this presentation contains time-sensitive information that speaks only as of the date this presentation. Knowles will not be reviewing or updating the material that is contained herein, except as required by applicable law.

If any portion of this presentation is retransmitted or accessed at a later date, the information contained herein may be outdated.

Non-GAAP Disclaimer

3

In addition to the GAAP financial measures included in this presentation, Knowles has presented certain non-GAAP financial measures. Knowles uses non-GAAP measures as supplements to its GAAP results of operations in evaluating certain aspects of its business, and its Board of Directors and executive management team focus on non-GAAP items as key measures of Knowles’ performance for business planning purposes. These measures assist Knowles in comparing its performance between various reporting periods on a consistent basis, as these measures remove from operating results the impact of items that, in Knowles’ opinion, do not reflect its core operating performance. Knowles believes that its presentation of non-GAAP information is useful because it provides investors and securities analysts with the same information that Knowles uses internally for purposes of assessing its core operating performance. For a reconciliation of these non-GAAP measures to the most directly related GAAP measure, please see the appendices hereto and the reconciliation tables included in Knowles’ information statement filed as an exhibit to its Form 10 with the SEC.

John AndersonSenior Vice President & Chief Financial Officer

Introduction of Presenters

4

Jeffrey NiewPresident &

Chief Executive Officer

Mobile Consumer Electronics Specialty Components

Michael AdellCo-President, Microphones

Christian ScherpCo-President, Speakers

& Receivers

Gordon WalkerCo-President,

Acoustics & Hearing Health

David WightmanCo-President,

Precision Devices

Discussion Agenda

5

I. Knowles Highlights

II. Specialty Components (SC)

III. Mobile Consumer Electronics (MCE)

IV. Financial Overview

V. Conclusion / Q&A

VI. Lunch / Demos

5

CULTURE OF INNOVATION

Knowles: Who We Are

GLOBAL SCALE

TOP TIERCUSTOMER

ENGAGEMENT

6

unitspatents

Knowles: What We Do

Mobile Consumer Electronics Specialty Components

Provides the acoustic backbone to smartphones, tablets, headsets, laptops and

other electronic products

Includes acoustic solutions for hearing aids,

and oscillators and capacitors used in a broad range of electronic equipment

2013 REVENUE $778mm $437mm

% total 64% 36%

2013 ADJ. EBITDA*

$246mm $106mm

Adj. EBITDAmargin*

32% 24%

Mobile consumer electronics

Medical TelecommunicationsTechnology Infrastructure

Military / Aerospace Industrial Markets

7*Segment information. Adj. EBITDA is defined as earnings before income taxes plus (i) depreciation and amortization expense and (ii) interest expense,excluding restructuring costs, stock-based compensation, and other items. See Appendices for non-GAAP to GAAP reconciliations.

Knowles: Why We Win

8

CULTURE OF INNOVATION

PIONEERING ACOUSTICS EXPERTISE

ENTRENCHED CUSTOMER RELATIONSHIPS

PROPRIETARY MANUFACTURING PROCESSES

DIFFERENTIATED PRODUCTS

Market-Leading Acoustic Supplier with Strong Engineering Relationships

Key Investment Highlights

9

1

2

3

4

5

Attractive End-Markets

Innovative Technology Drives Differentiated Solutions

Proprietary Operational Capabilities with Margin Expansion Potential

Experienced Management with Proven Track Record

Market Leading Acoustics Supplier, Strong Engineering Relationships

10

MARKET LEADERSHIPMARKET LEADERSHIP

Strong Financial

Performance

Acoustic Content

Growth

Product Development

Leadership and

Operational Excellence

Hearing Aid Solutions

Hearing Aid Solutions

#1 Global Supplier

Top 3 Supplier

#1 Global Supplier

1

MicrophonesMicrophones

Speakers / ReceiversSpeakers / Receivers

CUSTOMERS

64% 19% 9% 4% 4%

Attractive Markets

11

GROWTHGROWTH

2

Handset Other Consumer

Medical Technology

TelecommInfrastructure

Military / Aerospace

Industrial Markets

STABLESTABLEGROWTH STABILE

% of Total Sales

Note: % of total sales based 2013 information.

Innovative Technology Drives Differentiated Solutions

12

2000 2015+2010

Pace of acoustic features growing exponentially

in recent years

MicrophonesSpeakers & Receivers

High Performance Solutions

Integration

Embedded Software + Hardware Modules

Knowles Acoustic Subsystems enable smart device audio optimization

Knowles’ technology stems from 500+ patents

Knowles’ technology stems from 500+ patents

Audio $ Content

3V

oic

e Mu

lti-

Me

dia

Sp

ee

ch

Re

co

gn

itio

n

Se

ns

ing

Global Operational Capabilities with Margin Expansion Potential

13

1818 1111

4

Targeting $40mm - $50mm of Annualized Cost Savings1

More efficient manufacturing footprint

Lower cost geographies

Focus on productivity and low cost sourcing

TODAY MID TERMMID TERM

1: Exclusive of costs associated with restructuring. Restructuring of 4 of the 7 facilities has been announced and commenced.Annualized cost savings from restructuring costs incurred in 2012 & 2013 are expected to be approximately $19 million of the targeted amount.

Experienced and Successful Team

14

15+ yrsAverage Years of

Industry Experience

>10 yrs*7 Team Members with

>10 Years Knowles Experience

5

Name Position

Jeffrey Niew* President & CEO

John Anderson SVP & CFO

Raymond

Cabrera*

SVP, Human Resources & Chief

Administrative Officer

Michael Adell* Co-President, MCE - Microphones

Christian Scherp Co-President, MCE - Speakers & Receivers

Gordon Walker*Co-President, SC - Acoustics & Hearing

Health

David Wightman* Co-President, SC - Precision Devices

Daniel Giesecke* SVP & COO

James Wynn* SVP, Global Supply Chain

Paul Dickinson SVP, Corporate Development & Treasurer

Joseph Schmidt SVP, General Counsel & Secretary

$630 $587

$730

$983

$1,118 $1,215

21 %22 %

26 %

23 % 22 % 23 %

$0

$300

$600

$900

$1,200

2008 2009 2010 2011 2012 2013

Knowles: Investment Thesis

15

INVESTMENT HIGHLIGHTS

(in $mm)

Revenue

EBITDA Margin

Calendar year ending December

Goal to deliver strong operating margin leverage & enhanced shareholder valueGoal to deliver strong operating margin leverage & enhanced shareholder value

� Profitable revenue growth

� Well positioned in high growth mobile consumer electronics business

� Stable revenues and cash flow from specialty components

� Realize cost efficiencies through operational improvements

STRONG AND PROFITABLE REVENUE GROWTH

Note: EBITDA is defined as earnings before income taxes plus (i) depreciation and amortization expense and (ii) interest expense. See Form 10 and appendices for non-GAAP to GAAP reconciliations.

Knowles Specialty Components (SC)

16

Gordon WalkerCo-President, Acoustics &

Hearing Health

Specialty Components Snapshot

17

KEY PRODUCTS TOTAL REVENUE ($MM) AND % CHANGE

BUSINESS DYNAMICS ADJ. EBITDA ($MM)1 AND % MARGIN

Microphones / Receivers

Capacitors / Oscillators

$225 $233 $222

$248 $215 $215

$0

$100

$200

$300

$400

$500

2011 2012 2013

Acoustics Precision Devices

$473 $448 $437

� Stable markets

� Customer intimacy

� Attractive margin and cash flow dynamics

� Adds stability and diversity to Knowles portfolio

$130$115

$106

27% 26% 24%

$0

$30

$60

$90

$120

$150

2011 2012 2013

1 Adj. EBITDA is defined as earnings before income taxes plus (i) depreciation and amortization expense and (ii) interest expense, excluding restructuring costs, stock-based compensation, and acquisition transaction costs. See Appendices for non-GAAP to GAAP reconciliations.

ACOUSTIC PRODUCTS PRECISION DEVICES

Acoustic Products: What We Do

HEARING HEALTH PREMIUM AUDIO

“In Ear Monitors” for musicians and

enthusiasts

Typically >$100 retail (up to $1,000)

Receiver content: 1 - 8 receivers per ear

18Source: Knowles Management

Hearing Aid Microphones

Hearing Aid Receiver

Acoustic Products: Key Themes

19

1

2

3

Leader in Stable, Resilient Market with Favorable Macro Trends

Trusted Partner and Technology Leader

Strong Margin Expansion Opportunities

Market Overview – Hearing Health Acoustics

20

ATTRACTIVE MARKET DYNAMICS STABILITY OF HEARING MARKET

9.49.8

10.3 10.611.1 11.4

11.9

'07 '08 '09 '10 '11 '12 '13E

�Stable market

�Limited Competition

�Market Leader

�Strong market position with all hearing-aid manufacturers (OEMs)

Worldwide Hearing Units Sold (Millions of units)

Source: William Demant “Trends and Directions in the Hearing Healthcare Market”, Knowles Management

Market Leader for >60 Years in an Attractive, Stable Market with Favorable Macro Trends

Mega Trends: Hearing Health

21

51

96

119

2000 2025E 2050E

�Rapidly aging population

�Longer life expectancy

� Increasingly affluent

� Improved distribution infrastructure

NORTH AMERICA AGING POPULATION EMERGING MARKETS

Aged +60 (mm of people in North America)

Source: United Nations, DESA (Population Division)

Population of Adults Aged 60+ Expected to Increase from ~600 million to 2 billion in 2050

Acoustic Products: Why We Win

22

Leading Product Portfolio1

2

3

4

Critical Role in Customers’ Products

Collaborative Engineering and Development Relationships

Most Reliable Partner in the Industry

� Partnered with lead customer in 2004

� Became principal supplier to RIC segment from inception

� Today over 50% of world market is RIC

Where We Are Going

23

28%

44%

53%

2009 2011 Present

Present Future

� Product-Technology leadership, MEMs solves two problems for OEMs:

1. Hearing Instruments require greater stability, consistency

2. High labor costs from manual assembly

� MEMs provides a highly scalable solution with superior acoustics

� Recent design wins with 3 of the top 6 hearing aid OEMs

RECEIVER-IN-CANAL INSTRUMENTS MEMS MICROPHONES

RIC % of Total U.S. Market

Source: US Hearing Industries Association

Knowles Position in MEMs Microphones Demonstrates Technological Leadership

Low-Cost Manufacturing, Expanding Margins

24

CONTINUED INFLATIONAND FX PRESSURE IN CHINA…

… LED TO RELOCATION OFSPEAKER & RECEIVER MANUFACTURING

Announced August 2013 First Tranche January 2014 To Be Completed Mid-2015

Suzhou, ChinaCebu,

Philippines

Estimated ~$10mm in Savings per Year

Acoustic Products: Key Takeaways

25

1

2

3

Profitable Leader in a Range of Attractive End Markets

Product and Technology Leader with Close Customer Relationship

Significant Margin Expansion Opportunity

Knowles Specialty Components (SC)

26

David WightmanCo-President

Precision Devices

Precision Devices Snapshot

27

KEY PRODUCTS

� Crystal Oscillators

� SAW Filters

� Thin Film Filters

� Single Layer Capacitors

� Multi-Layer Capacitors

� High Reliability Capacitors

Precision Devices – Chosen by Engineers

Precision Devices: Key Themes

28

Why We Win1

2

3

4

5

Attractive Dynamics in Our Chosen Markets

Selected Market Segments

Innovation to Solve Customer Problems

Margin Expansion Opportunity

Precision Devices: Why We Win

29

Customer Intimacy

Product Innovation

Market Segment Focus

Operational Excellence

Attractive Dynamics in Our Chosen Markets

30

Military and Space� Smart Phone Technology advancements pushes global

military communications

Telecoms� Small Cell deployments supporting Data Traffic

� Cloud Computing supporting large data centers

Medical� Medical equipment for an aging population

� Increasing standards of care in emerging markets

Industrial

� Test and Measurement equipment for next generation networks

� Increased applications in harsh operating environments

Technology Driven Solutions to Meet Customer Specific Demands

Focused on Specific, Mission-Critical Market Segments

31

Medical

Military and Aerospace

Telecom

Industrial

Opportunity for Portfolio

Expansion via Low Cost

Manufacturing

Consumer Electronics

Knowles Focuses on Mission Critical Segments where Competitive Differentiation Leads to Strong Margins

Knowles Recipe for Success – Capacitor Innovation

32

IDENTIFY THE PROBLEM

MRI Case Study

�Material development of ceramic and electrode systems

�New plating technique

�New tests for high energy pulse requirements

�Soldering techniques for high volume assembly

Requires high-energy, non-magnetic capacitors capable of withstanding

high energy pulses

CREATE A SOLUTION

Primary source for the full range of non-magnetic capacitors as Knowles Capacitors can now provide a “one

source” solution

ACHIEVE A BENEFICIAL OUTCOME

Knowles Identifies the Problem, Creates a Solution, and Becomes a Preferred Source

Margin Expansion Opportunity

33

Reduction in Footprint

Direct Labor Savings

Operational Excellence /

SG&A

Transition from four capacitor units into

one global operation

Relocating UK manufacturing to Suzhou, China

Overhead and SG&A reduction

opportunities

Positioned for $9mm of Annualized Savings

Precision Devices: Key Takeaways

34

Profitable Leader in a Diversity of Carefully Selected End Markets

1

2

3

Positioned to Build-On Knowles Attributes: Customer Intimacy, Product Leadership, Relationship with Engineering Communities

Significant Margin Expansion Opportunity

Mobile Consumer Electronics (MCE)

35

Christian ScherpCo-President,

Speakers & Receivers

Michael AdellCo-President, Microphones

Speakers / Receivers

Mobile Consumer Electronics Snapshot

36

30% 28% 32%

$0

$100

$200

$300

2011 2012 2013

$155$185

$246

Microphones

$0

$250

$500

$750

$1,000

2011 2012 2013

$510

$670$778

TOTAL REVENUE ($MM)¹ AND % GROWTH

ADJ. EBITDA ($MM)² AND % MARGIN

KEY PRODUCTS STRONG FINANCIAL PROFILE

¹ 2011 includes a partial year of Sound Solutions revenue² Adj. EBITDA is defined as earnings before income taxes plus (i) depreciation and amortization expense and (ii) interest expense, excluding restructuring costs, stock-based compensation, and acquisition transaction costs. See Appendices for non-GAAP to GAAP reconciliations.

Profitable Business with Attractive Growth Opportunities

Typical Smartphone Acoustics Applications

37

Main Microphone

High Definition

Loud Speaker

Ear-Bud SpeakersHands-Free

Reduces background

noise

Improves Video

Sound Recording

Calls / Voice

Recognition

Noise Canceling

Microphones

Clear sounds

High Definition Media

Playback

High Performance

Speakers

MicrophonesMicrophones Speakers / ReceiversSpeakers / Receivers

Noise Cancelling Voice Call Receiver

MCE: Key Themes

38

Attractive Growth Markets1

2

3

4

5

Market Leadership

Commitment to Innovation

Acoustic Content Growth

Transition to Integrated Audio Solutions

0

400

800

1,200

1,600

2,000

2,400

2013E 2014E 2015E 2016E

Vo

lum

e(M

un

its

)Attractive End-Markets

39

SMARTPHONES AND TABLETS VOLUME

SmartphonesTablets

� Overall “total” market growing at ~6% CAGR

� Smartphone market slowing to low double digit growth

� Notebook declines offset by Tablet

� Knowles is well positioned in growth markets

HIGHLIGHTS

1

Focus Markets Continue to Grow

Source: IDC (Nov. 2013), Management Projections

Attractive Growth Markets –Evolving Market Demands

40

Time

Au

dio

Valu

e

Traditional CommunicationTraditional Communication

Human Communication

Human Communication

VoiceVoice

Music, movies and gamesMusic, movies and gamesMulti-Media Recording

Multi-Media Recording

AudioAudio

Augmented ListeningAugmented ListeningMachine

Awareness

Sensing

Human to Machine Speech recognitionSpeech recognition

Speech

1

Market Demands Driving Growth

Market Leadership

41

Market leader#1 global supplier of microphones

Top 3 supplier of speakers and receivers

Key supplier / partner to all major OEMs

Complete systems solutions capabilities

Recognized technology leader in

acoustics

Shift towardsIntegrated Solutions

Shift towardsIntegrated Solutions

Standalone Components System Solution

2

Key Acoustic Inventions

• Telecom Micro Speakers

• Rectangular Speaker

• MEMs Microphone

LEADINGACOUSTICCOMPANY

LEADINGSEMICONDUCTOR

COMPANY

Applications Understanding

Acoustic Innovation

MEMs & ASIC Design

Proprietary Manufacturing Techniques

Mechanical/Industrial Design

Product Portfolio

Competitive Landscape

42

2

Knowles’ unique combination of application knowledge, silicon design, and proprietary manufacturing

Source: Knowles Management

Commitment to Innovation

43

KEY HIGHLIGHTS

� World-class, in-house capabilities

� Combination of acoustic understanding and silicon design capabilities

� Strong pipeline of new products

� Rapid box development, N’Bass technology, intelligent solutions

� Proprietary, cost-efficient, and flexible manufacturing processes

� Industry-leading acoustic production test systems

Technology InnovationTechnology Innovation

Product Innovation

Product Innovation

Manufacturing Process

Innovation

Manufacturing Process

Innovation

3

Knowles is Constantly Innovating Across its Entire Business

Commitment to Innovation – Microphones

44

TREND TOWARD HIGHER PERFORMANCE MICS KNOWLES COMMITMENT TO INNOVATION

5B shipped to date

Leader in high performance / digital microphones

Platform for next generation audio solutions

First multi-mode low-power digital MEMs microphone

Unique combination in MEMs, ASIC, package and manufacturing processes

Positioned for Long-term Growth

Source: Knowles Management

50%

3

3

4

2

1

Strategically Positioned to Capture Trend to Next Generation Microphone Solutions

Commitment to Innovation –Speakers and Receivers

45

� The best “acoustic brain” in the industry with strong pre-development capabilities

� Unique competence for ultra-thin future speaker solutions

� Pushing beyond acoustics to include software, silicon, sensors and more

1997

2005

2013World’s first Telecom

Micro-speaker

World’s first RectangularMicro-speaker

Over 6.6 billion pieces sold

3

Strategic Investment in R&D Drives Knowles Leading-edge Audio Solutions

Acoustic Content Growth

46

$1 - 2 $2 - 3 $3 - 5

Receiver

Dual Mics

Speaker

Receiver

Single Mic

Speaker

Receiver

Multi Mics

Integrated Speaker Box/Antenna

Addressable

Content

2008 2012 FUTURE

Source: Knowles Management

4

Opportunities to Increase Content in Each Successive Generation

Acoustic Content Growth

47

WITH EACH NEW PRODUCT, SELLING PRICE RISES

STRONG AND INNOVATIVEINFRASTRUCTURE

2011NPI

2012NPI

2013NPI

2011 2013

New Microphones ASP by Introduction Year

Avg

. S

ellin

g P

rice

2012

� Patented microphone technology

� In-house ASIC, MEMs, and packaging

� Robust product pipeline driven by new use-cases

NPI = New Product Introduction

Source: Knowles Management

4

Product Innovation Resets ASPs

Microphone

Speaker/Receiver

Integrated AudioComponents

Speaker Modules

(Multi) Mic on Flex

Integrated ModulesMic/Spkr/Box/Flex/Antenna

Intelligent Audio Smart Mic

Intelligent Audio Smart Speaker

Intelligent Audio

5

Capturing Value through Audio Integration

$ $$ $$$

Integrated Solutions Model – Future Trends

Intelligent Audio SystemIntelligent Audio System

Integrated Speaker BoxIntegrated Speaker Box

MicrophonesMicrophones ReceiversSpeakersSpeakers

ConcertRecording

AudioZoom

Stereo Capture/Playback

2mic Noise Reduction

5.1 Surround SoundCapture / Playback

Wind Noise Reduction

Gesture Recognition

Active Noise Cancellation

Playback Optimization

Hardware / Software System Future Knowles Products

Product Platform

Intelligent Solutions

Integrated Solutions Model – Future Trends

49

5

Platform for Pioneering Intelligent Acoustic Applications

MCE: Key Takeaways

50

Attractive Growth Markets

Market Leadership

Commitment to Innovation

Acoustic Content Growth

Transition to Integrated Audio Solutions

1

2

3

4

5

Financial Overview

51

John Anderson

Senior Vice President &

Chief Financial Officer

Financial Highlights

52

Earnings Growth Through Robust Revenue Improvement and Margin Expansion

Significant market and

content growth in

Mobile Consumer

Strong track record of cash flow generation

Margin expansion

opportunity to drive

earnings growth

Stable revenue and

cash flow from

Specialty Components

Disciplined approach to

capital allocation

Track Record of Consistent Revenue Growth

53

REVENUE ($MM) KEY GROWTH DRIVERS

�Strong position in growing smartphone and tablet market

�Content growth through multi-mic adoption and integrated acoustic systems

�Hearing aid penetration in aging populations and developing markets

$ 983

$ 1,118 $ 1,215

2011 2012 2013

Revenue Expansion Driven by Smartphone Market Expansion and Content Growth

Note: 2011 includes a partial year of Sound Solutions revenue

Strong Margins and Cash Flow Generation

54

ADJ. EBITDA (AND % MARGIN)¹

KEY DRIVERS

� Higher volumes and scale efficiencies

� 2013 Adj. EBITDA margin expansion due to increased ASP on new products and improved operating leverage

� Productivity and restructuring actions beginning to lower costs

� Significant capital spent on capacity expansion and facility restructuring

FREE CASH FLOW (AND % OF REVENUES)²

$246 $261$307

25.0% 23.4% 25.3%

2011 2012 2013

$mm

$87

$44

$77

8.8%

3.9%6.3%

2011 2012 2013E

$mm

¹ Adj. EBITDA is defined as earnings before income taxes plus (i) depreciation and amortization expense and (ii) interest expense, excluding restructuring costs, stock-based compensation, and acquisition transaction costs. See Appendix for GAAP to Non-GAAP reconciliations. ² Free cash flow is calculated as cash flow provided by operating activities less capital expenditures.

Margin Expansion Strategy

55

TODAY MID TERM

Footprint

Consolidation

Movement toLower-Cost

Regions

Operational

Excellence

� Low cost materials sourcing

� Lean focus / productivity enhancements

� Further back office streamlining

� Improved operating leverage

18 11

Suzhou

UK

Cebu

Suzhou

Expect to Drive $40mm - $50mm Annualized Cost Savings1

1: Exclusive of costs associated with restructuring. Restructuring of 4 of the 7 facilities has been announced and commenced.Annualized cost savings from costs incurred in 2012 & 2013 are expected to be approximately $19 million of the expected amount.

Efficient Capital Structure and Capital Allocation

56

�Organic growth investments

�Continued funding of research and development

�Productivity improvements

�Expanding manufacturing footprint in cost-competitive regions

�Bolt-on acquisitions

�Evaluate return of capital (mid-term)

STRONG BALANCE SHEET AT SPIN CAPITAL ALLOCATION PRIORITIES

(US$ in millions) At Spin

Cash $40

Total Debt $400

Net Debt $360

Total Debt / Adj. EBITDA1 1.3x

Net Debt / Adj. EBITDA1 1.2x

Intent to maintain Investment Grade-like credit metrics

Intent to maintain Investment Grade-like credit metrics

Focused on Efficient Capital Allocation to Drive Shareholder Value

1: Adj. EBITDA is defined as earnings before income taxes plus (i) depreciation and amortization expense and (ii) interest expense, excluding restructuring costs, stock-based compensation, and other items. See Appendix for GAAP to Non-GAAP reconciliations.

2013 Historical Data and Projections for Q1’14 (non-GAAP)

57

Q1’13 Q2’13 Q3’13 Q4’13 Q1’14E

Revenue ($M) $276 $297 $312 $330 $260-265

Gross Profit ($M) $97 $106 $122 $125 $88-91

Gross Profit Margin (%) 35.2% 35.7% 39.2% 37.9% 34.0-35.0%

Operating Profit ($M) $39 $50 $69 $66 $31-33

Operating Margin (%) 14.2% 16.9% 22.1% 20.0% 12.0-13.0%

Note: See Appendices for GAAP to Non-GAAP reconciliations.

Where We Are Where We Are Going

Mid Term Financial Model Targets

58

� Increased market share in high growth, high margin businesses

� Expansion into adjacent markets

� Additional customer penetration and content

� Lower cost structure

� Long-standing acoustic solutions market leader

� Highly diversified products

� Global footprint

� Experienced management team

Mid-Term Target

Annual Revenue Growth 7%

Gross Margin¹ 39%

Operating Expenses¹ (% of sales) 17%

Operating Margin¹ 22%

CapEx (% of sales) 7%

Free Cash Flow2 (% of sales) 12%

MID TERM BUSINESS MODEL

¹ Non-GAAP. See appendices for non-GAAP to GAAP reconciliations.² Free Cash Flow calculated as Operating Cash Flow less Capex.

KnowlesConclusion + Q&A

Key Investment Highlights

60

Market-Leading Acoustic Supplier with Strong Engineering Relationships

1

2

3

4

5

Attractive End-Markets

Innovative Technology Drives Differentiated Solutions

Proprietary Operational Capabilities with Margin Expansion Potential

Experienced Management with Proven Track Records

Appendices

61

62

KNOWLES CORPORATION

GAAP FINANCIAL MEASURES AND NON-GAAP FINANCIAL MEASURES (1)

(unaudited, dollars in millions)

Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total

Revenue 276.2$ 296.7$ 311.6$ 330.3$ 1,214.8$ 261.1$ 260.7$ 299.6$ 296.6$ 1,118.0$

Non-GAAP Gross profit 97.3 105.8 122.0 125.1 450.2 88.6 92.9 111.5 115.0 408.0

Non-GAAP Selling and administrative expenses 58.0 55.6 53.1 59.1 225.8 49.6 54.8 53.1 54.7 212.2

Non-GAAP Operating earnings 39.3$ 50.2$ 68.9$ 66.0$ 224.4$ 39.0$ 38.1$ 58.4$ 60.3$ 195.8$

Notes:

2013 2012

(1) In addition to the GAAP financial measures included herein, Knowles has presented certain non-GAAP financial measures. Knowles uses non-GAAP measures as supplements to its GAAP

results of operations in evaluating certain aspects of its business, and its Board of Directors and executive management team focus on non-GAAP items as key measures of Knowles'

performance for business planning purposes. These measures assist Knowles in comparing its performance between various reporting periods on a consistent basis, as these measures remove

from operating results the impact of items that, in Knowles' opinion, do not reflect its core operating performance. Knowles believes that its presentation of non-GAAP financial measures is

useful because it provides investors and securities analysts with the same information that Knowles uses internally for purposes of assessing its core operating performance.

63

KNOWLES CORPORATION

RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES (unaudited, dollars in millions)

Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total

GAAP Gross Profit 94.9$ 100.1$ 117.9$ 118.6$ 431.5$ 88.6$ 92.9$ 111.5$ 114.0$ 407.0$

Asset Impairment and Related Inventory Charges - - 0.4 1.7 2.1 - - - - -

Restructuring Charges 1.8 4.0 1.0 1.0 7.8 - - - 0.4 0.4

Production Transfers Costs (1)

0.6 1.7 2.7 3.8 8.8 - - - 0.6 0.6

Non-GAAP Gross Profit 97.3$ 105.8$ 122.0$ 125.1$ 450.2$ 88.6$ 92.9$ 111.5$ 115.0$ 408.0$

Non-GAAP Gross Profit as % of Revenues 35.2% 35.7% 39.2% 37.9% 37.1% 33.9% 35.6% 37.2% 38.8% 36.5%

GAAP Selling and Administrative Expenses 72.4$ 72.5$ 66.2$ 73.0$ 284.1$ 62.9$ 68.2$ 66.6$ 73.2$ 270.9$

Stock-Based Compensation Expense (0.5) (0.7) (0.5) (0.3) (2.0) (0.5) (0.5) (0.5) (0.4) (1.9)

Intangibles Amortization Expense (11.6) (12.3) (11.5) (10.5) (45.9) (11.7) (12.1) (11.1) (13.6) (48.5)

Asset Impairment Charges (0.5) - - (2.6) (3.1) - - (0.8) (0.9) (1.7)

Restructuring Charges (1.6) (5.5) (1.0) (0.4) (8.5) (1.0) (0.7) (0.8) (3.0) (5.5)

Production Transfers Costs (1)

(0.2) 0.2 (0.1) (0.1) (0.2) (0.1) (0.1) (0.3) (0.6) (1.1)

Other - 1.4 - - 1.4 - - - - -

Non-GAAP Selling and Administrative Expenses 58.0$ 55.6$ 53.1$ 59.1$ 225.8$ 49.6$ 54.8$ 53.1$ 54.7$ 212.2$

Non-GAAP S&A Expenses as % of Revenues 21.0% 18.7% 17.0% 17.9% 18.6% 19.0% 21.0% 17.7% 18.4% 19.0%

GAAP Operating Earnings 22.5$ 27.6$ 51.7$ 45.6$ 147.4$ 25.7$ 24.7$ 44.9$ 40.8$ 136.1$

Stock-Based Compensation Expense 0.5 0.7 0.5 0.3 2.0 0.5 0.5 0.5 0.4 1.9

Intangibles Amortization Expense 11.6 12.3 11.5 10.5 45.9 11.7 12.1 11.1 13.6 48.5

Asset Impairment and Related Inventory Charges 0.5 - 0.4 4.3 5.2 - - 0.8 0.9 1.7

Restructuring Charges 3.4 9.5 2.0 1.4 16.3 1.0 0.7 0.8 3.4 5.9

Production Transfers Costs (1)

0.8 1.5 2.8 3.9 9.0 0.1 0.1 0.3 1.2 1.7

Other - (1.4) - - (1.4) - - - - -

Non-GAAP Operating Earnings 39.3$ 50.2$ 68.9$ 66.0$ 224.4$ 39.0$ 38.1$ 58.4$ 60.3$ 195.8$

Non-GAAP Operating Earnings as % of Revenues 14.2% 16.9% 22.1% 20.0% 18.5% 14.9% 14.6% 19.5% 20.3% 17.5%

Notes:

2013 2012

(1) Production Transfer Costs represent one-time and duplicate costs incurred to migrate manufacturing to new facilities, primarily for speakers, hearing health products, and capacitors. These amounts

are included in the corresponding GAAP Gross Profit, GAAP Selling and Administrative Expenses and GAAP Operating Earnings for each period presented.

64

KNOWLES CORPORATION

(unaudited, dollars in millions)

2013

Mobile Consumer Electronics

Adjusted EBITDA (1)

245.7$

Asset Impairment and Related Inventory Charges (5.1)

Restructuring Charges (7.3)

Production Transfers Costs (2)

(3.6)

EBITDA (3)

229.7$

MCE EBITDA as % of MCE Revenues 29.5%

Specialty Components

Adjusted EBITDA (1)

106.2$

Restructuring Charges (9.2)

Production Transfers Costs (2)

(5.2)

Other 1.4

EBITDA (3)

93.2$

SC EBITDA as % of SC Revenues 21.3%

Total Segments EBITDA (3)

322.9$

Corporate/Other

Adjusted EBITDA (1)

(44.9)$

Stock-Based Compensation Expense (1.9)

EBITDA (3)

(46.8)$

Combined EBITDA (3)

276.1$

Interest Expense, net (42.0)

Depreciation and Amortization Expense (130.9)

Earnings before income taxes 103.2$

RECONCILIATION OF SEGMENT NON-GAAP FINANCIAL MEASURES

TO GAAP FINANCIAL MEASURES

(1) Adjusted EBITDA is defined as net earnings plus (i) depreciation and amortization

expense, (ii) interest expense, and (iii) income taxes, excluding restructuring costs, stock-

based compensation, and acquisition transaction costs.

(3) EBITDA is defined as net earnings plus (i) depreciation and amortization expense, (ii)

interest expense, and (iii) income taxes.

(2) Production Transfer Costs represent one-time and duplicate costs incurred to

migrate manufacturing to new facilities, primarily for speakers, hearing health products,

and capacitors.

65

KNOWLES CORPORATION

(unaudited, dollars in millions)

2012 2011

Mobile Consumer Electronics

Adjusted EBITDA (1)

184.7$ 154.8$

Asset Impairment and Related Inventory Charges (1.7) -

Restructuring Charges (1.2) -

Production Transfers Costs (2)

(1.7) -

EBITDA (3)

180.1$ 154.8$

MCE EBITDA as % of MCE Revenues 26.9% 30.4%

Specialty Components

Adjusted EBITDA (1)

115.0$ 130.1$

Restructuring Charges (4.6) (0.5)

EBITDA (3)

110.4$ 129.6$

SC EBITDA as % of SC Revenues 24.6% 27.4%

Total Segments EBITDA (3)

290.5$ 284.4$

Corporate/Other

Adjusted EBITDA (1)

(38.3)$ (39.2)$

Stock-Based Compensation Expense (1.9) (1.9)

Acquisition Transaction Costs (4)

- (13.1)

EBITDA (3)

(40.2)$ (54.2)$

Combined EBITDA (3)

250.3$ 230.2$

Interest Expense, net (56.5) (39.9)$

Depreciation and Amortization Expense (114.9) (84.8)$

Benefit from (provision for) income taxes 0.2 (7.1)$

Net Earnings 79.1$ 98.4$

(4) Acquisition Transaction Costs represent expenditures associated with the purchase of the Sound

Solutions business.

RECONCILIATION OF SEGMENT NON-GAAP FINANCIAL

MEASURES TO GAAP FINANCIAL MEASURES

(1) Adjusted EBITDA is defined as net earnings plus (i) depreciation and amortization expense, (ii) interest

expense, and (iii) income taxes, excluding restructuring costs, stock-based compensation, and acquisition

transaction costs.

(3) EBITDA is defined as net earnings plus (i) depreciation and amortization expense, (ii) interest expense,

and (iii) income taxes.

(2) Production Transfer Costs represent one-time and duplicate costs incurred to migrate manufacturing

to new facilities, primarily for speakers, hearing health products, and capacitors.

66

KNOWLES CORPORATION

(unaudited, dollars in millions)

2013

Revenues 1,214.8$

Earnings Before Taxes 103.2

Depreciation and Amortization Expense 130.9

Interest Expense, net 42.0

EBITDA (1)

276.1$

EBITDA margin (2)

22.7%

RECONCILIATION OF EARNINGS BEFORE TAXES TO

EBITDA

(1) EBITDA is defined as net earnings plus (i) depreciation and amortization expense,

(ii) interest expense, and (iii) income taxes.

(2) EBITDA margin is defined as EBITDA as a percentage of revenue.

67

KNOWLES CORPORATION

(unaudited, dollars in millions)

2012 2011 2010 2009 2008

Revenues 1,118.0$ 983.3$ 730.4$ 587.0$ 630.4$

Net Earnings 79.1 98.4 109.3 37.3 33.1

Depreciation and Amortization Expense 114.9 84.8 54.4 50.7 49.5

Interest Expense, net 56.5 39.9 20.3 21.2 37.5

Benefit from (provision for) income taxes (0.2) 7.1 7.5 18.5 13.0

EBITDA (1)

250.3$ 230.2$ 191.4$ 127.6$ 133.1$

EBITDA margin (2)

22.4% 23.4% 26.2% 21.7% 21.1%

(1) EBITDA is defined as net earnings plus (i) depreciation and amortization expense, (ii) interest expense, and (iii) income taxes.

(2) EBITDA margin is defined as EBITDA as a percentage of revenue.

RECONCILIATION OF NET EARNINGS TO

EBITDA